Ministry of Commerce & Industry
Index of Eight Core Industries  for May, 2023
The combined Index of Eight Core Industries  increased by 4.3 per cent  in May 2023 as compared to the Index of May 2022. The production of Cement, Fertilizers, Steel, Coal, and Refinery Products increased in May 2023 over the corresponding month of last year. ICI measures combined and individual performance of production of eight core industries viz. Coal, Crude Oil, Natural Gas, Refinery Products, Fertilizers, Steel, Cement and Electricity. The Eight Core Industries comprise 40.27 percent of the weight of items included in the Index of Industrial Production . Details of annual and monthly indices and growth rates are provided at Annex I & II respectively.
Final growth rate of Index of Eight Core Industries for February 2023 is revised to 7.4 per cent. The cumulative growth rate of ICI during April-May 2023-24 reported 4.3 per cent  as compared to the corresponding period of last year.
The summary of the Index of Eight Core Industries is given below:
Coal - Coal production  increased by 7.2 per cent in May, 2023 over May, 2022. Its cumulative index increased by 8.2 per cent during April to May 2023-24 over corresponding period of the previous year.
Crude Oil - Crude Oil production  declined by 1.9 per cent in May, 2023 over May, 2022. Its cumulative index declined by 2.7 per cent during April to May, 2023-24 over the corresponding period of previous year.
Natural Gas - Natural Gas production  declined by 0.3 per cent in May, 2023 over May, 2022. Its cumulative index declined by 1.5 per cent during April to May, 2023-24 over the corresponding period of previous year.
Petroleum Refinery Products - Petroleum Refinery production  increased by 2.8 per cent in May, 2023 over May, 2022. Its cumulative index increased by 0.7 per cent during April to May, 2023-24 over the corresponding period of previous year.
Fertilizers - Fertilizers production  increased by 9.7 per cent in May, 2023 over May, 2022. Its cumulative index increased by 15.7 per cent during April to May, 2023-24 over the corresponding period of previous year.
Steel - Steel production  increased by 9.2 per cent in May, 2023 over May, 2022. Its cumulative index increased by 12.2 per cent during April to May, 2023-24 over the corresponding period of previous year.
Cement - Cement production  increased by 15.5 per cent in May, 2023 over May, 2022. Its cumulative index increased by 13.7 per cent during April to May, 2023-24 over the corresponding period of previous year.
Electricity - Electricity generation  declined by 0.3 per cent in May, 2023 over May, 2022. Its cumulative index declined by 0.7 per cent during April to May, 2023-24 over the corresponding period of previous year.
Note 1: Data for March, 2023, April, 2023 and May, 2023 are provisional. Index numbers of Core Industries are revised /finalized as per updated data from source agencies.
Note 2: Since April, 2014, Electricity generation data from Renewable sources are also included.
Note 3: The industry-wise weights indicated above are individual industry weight derived from IIP and blown up on pro rata basis to a combined weight of ICI equal to 100.
Note 4: Since March 2019, a new steel product called Hot Rolled Pickled and Oiled  under the item ‘Cold Rolled  coils’ within the production of finished steel has also been included.
Note 5: Release of the index for June, 2023 will be on Monday 31st July, 2023.
Annex I
Performance of Eight Core Industries
Yearly Index & Growth Rate
Base Year: 2011-12=100
Index
|
|
Sector
|
|
Coal
|
|
Crude Oil
|
|
Natural Gas
|
|
Refinery Products
|
|
Fertilizers
|
|
Steel
|
|
Cement
|
|
Electricity
|
|
Overall Index
|
|
Weight
|
|
10.33
|
|
8.98
|
|
6.88
|
|
28.04
|
|
2.63
|
|
17.92
|
|
5.37
|
|
19.85
|
|
100.00
|
|
2012-13
|
|
103.2
|
|
99.4
|
|
85.6
|
|
107.2
|
|
96.7
|
|
107.9
|
|
107.5
|
|
104.0
|
|
103.8
|
|
2013-14
|
|
104.2
|
|
99.2
|
|
74.5
|
|
108.6
|
|
98.1
|
|
115.8
|
|
111.5
|
|
110.3
|
|
106.5
|
|
2014-15
|
|
112.6
|
|
98.4
|
|
70.5
|
|
108.8
|
|
99.4
|
|
121.7
|
|
118.1
|
|
126.6
|
|
111.7
|
|
2015-16
|
|
118.0
|
|
97.0
|
|
67.2
|
|
114.1
|
|
106.4
|
|
120.2
|
|
123.5
|
|
133.8
|
|
115.1
|
|
2016-17
|
|
121.8
|
|
94.5
|
|
66.5
|
|
119.7
|
|
106.6
|
|
133.1
|
|
122.0
|
|
141.6
|
|
120.5
|
|
2017-18
|
|
124.9
|
|
93.7
|
|
68.4
|
|
125.2
|
|
106.6
|
|
140.5
|
|
129.7
|
|
149.2
|
|
125.7
|
|
2018-19
|
|
134.1
|
|
89.8
|
|
69.0
|
|
129.1
|
|
107.0
|
|
147.7
|
|
147.0
|
|
156.9
|
|
131.2
|
|
2019-20
|
|
133.6
|
|
84.5
|
|
65.1
|
|
129.4
|
|
109.8
|
|
152.6
|
|
145.7
|
|
158.4
|
|
131.6
|
|
2020-21
|
|
131.1
|
|
80.1
|
|
59.8
|
|
114.9
|
|
111.6
|
|
139.4
|
|
130.0
|
|
157.6
|
|
123.2
|
|
2021-22
|
|
142.3
|
|
77.9
|
|
71.3
|
|
125.1
|
|
112.4
|
|
163.0
|
|
156.9
|
|
170.1
|
|
136.1
|
|
2022-23
|
|
163.6
|
|
76.6
|
|
72.4
|
|
131.2
|
|
125.1
|
|
177.6
|
|
170.5
|
|
185.2
|
|
146.6
|
|
Apr-May 22-23
|
|
152.0
|
|
79.1
|
|
72.2
|
|
136.0
|
|
111.0
|
|
168.0
|
|
168.1
|
|
197.2
|
|
147.1
|
|
Apr-May 23-24
|
|
164.4
|
|
76.9
|
|
71.1
|
|
136.9
|
|
128.5
|
|
188.5
|
|
191.2
|
|
195.8
|
|
153.5Provisional
Growth Rates 
|
|
Sector
|
|
Coal
|
|
Crude Oil
|
|
Natural Gas
|
|
Refinery Products
|
|
Fertilizers
|
|
Steel
|
|
Cement
|
|
Electricity
|
|
Overall Growth
|
|
Weight
|
|
10.33
|
|
8.98
|
|
6.88
|
|
28.04
|
|
2.63
|
|
17.92
|
|
5.37
|
|
19.85
|
|
100.00
|
|
2012-13
|
|
3.2
|
|
-0.6
|
|
-14.4
|
|
7.2
|
|
-3.3
|
|
7.9
|
|
7.5
|
|
4.0
|
|
3.8
|
|
2013-14
|
|
1.0
|
|
-0.2
|
|
-12.9
|
|
1.4
|
|
1.5
|
|
7.3
|
|
3.7
|
|
6.1
|
|
2.6
|
|
2014-15
|
|
8.0
|
|
-0.9
|
|
-5.3
|
|
0.2
|
|
1.3
|
|
5.1
|
|
5.9
|
|
14.8
|
|
4.9
|
|
2015-16
|
|
4.8
|
|
-1.4
|
|
-4.7
|
|
4.9
|
|
7.0
|
|
-1.3
|
|
4.6
|
|
5.7
|
|
3.0
|
|
2016-17
|
|
3.2
|
|
-2.5
|
|
-1.0
|
|
4.9
|
|
0.2
|
|
10.7
|
|
-1.2
|
|
5.8
|
|
4.8
|
|
2017-18
|
|
2.6
|
|
-0.9
|
|
2.9
|
|
4.6
|
|
0.0
|
|
5.6
|
|
6.3
|
|
5.3
|
|
4.3
|
|
2018-19
|
|
7.4
|
|
-4.1
|
|
0.8
|
|
3.1
|
|
0.3
|
|
5.1
|
|
13.3
|
|
5.2
|
|
4.4
|
|
2019-20
|
|
-0.4
|
|
-5.9
|
|
-5.6
|
|
0.2
|
|
2.7
|
|
3.4
|
|
-0.9
|
|
0.9
|
|
0.4
|
|
2020-21
|
|
-1.9
|
|
-5.2
|
|
-8.2
|
|
-11.2
|
|
1.7
|
|
-8.7
|
|
-10.8
|
|
-0.5
|
|
-6.4
|
|
2021-22
|
|
8.5
|
|
-2.6
|
|
19.2
|
|
8.9
|
|
0.7
|
|
16.9
|
|
20.8
|
|
8.0
|
|
10.4
|
|
2021-23
|
|
14.9
|
|
-1.7
|
|
1.6
|
|
4.8
|
|
11.3
|
|
9.0
|
|
8.7
|
|
8.9
|
|
7.7
|
|
Apr-May 22-23
|
|
31.8
|
|
1.8
|
|
6.7
|
|
12.8
|
|
16.4
|
|
8.6
|
|
15.9
|
|
17.4
|
|
14.3
|
|
Apr-May 23-24
|
|
8.2
|
|
-2.7
|
|
-1.5
|
|
0.7
|
|
15.7
|
|
12.2
|
|
13.7
|
|
-0.7
|
|
4.3Provisional, YoY is calculated over the corresponding financial year of previous year
Annex II
Performance of Eight Core Industries
Monthly Index & Growth Rate
Base Year: 2011-12=100
Index
|
|
Sector
|
|
Coal
|
|
Crude Oil
|
|
Natural Gas
|
|
Refinery Products
|
|
Fertilizers
|
|
Steel
|
|
Cement
|
|
Electricity
|
|
Overall Index
|
|
Weight
|
|
10.33
|
|
8.98
|
|
6.88
|
|
28.04
|
|
2.63
|
|
17.92
|
|
5.37
|
|
19.85
|
|
100.00
|
|
May-22
|
|
156.3
|
|
80.3
|
|
73.5
|
|
137.3
|
|
126.0
|
|
172.0
|
|
165.4
|
|
199.9
|
|
149.6
|
|
Jun-22
|
|
148.0
|
|
76.9
|
|
70.9
|
|
130.3
|
|
126.4
|
|
158.2
|
|
177.4
|
|
196.9
|
|
143.9
|
|
Jul-22
|
|
132.7
|
|
77.3
|
|
72.6
|
|
129.8
|
|
127.6
|
|
166.8
|
|
155.4
|
|
188.9
|
|
141.1
|
|
Aug-22
|
|
127.5
|
|
76.7
|
|
73.0
|
|
123.6
|
|
130.9
|
|
170.5
|
|
152.0
|
|
191.3
|
|
139.9
|
|
Sep-22
|
|
127.5
|
|
75.2
|
|
72.1
|
|
120.2
|
|
127.0
|
|
172.8
|
|
158.7
|
|
187.4
|
|
138.6
|
|
Oct-22
|
|
145.8
|
|
77.4
|
|
73.0
|
|
123.5
|
|
129.5
|
|
177.3
|
|
155.2
|
|
169.3
|
|
138.8
|
|
Nov-22
|
|
167.5
|
|
75.8
|
|
71.8
|
|
119.7
|
|
129.2
|
|
175.5
|
|
164.3
|
|
166.7
|
|
139.4
|
|
Dec-22
|
|
184.4
|
|
78.2
|
|
74.5
|
|
139.3
|
|
129.9
|
|
190.9
|
|
184.8
|
|
179.4
|
|
153.4
|
|
Jan-23
|
|
198.6
|
|
78.3
|
|
75.2
|
|
142.0
|
|
135.8
|
|
199.5
|
|
184.7
|
|
186.6
|
|
158.8
|
|
Feb-23
|
|
190.1
|
|
68.1
|
|
67.0
|
|
129.1
|
|
125.2
|
|
185.4
|
|
180.2
|
|
174.0
|
|
147.3
|
|
Mar-23
|
|
236.6
|
|
77.3
|
|
74.6
|
|
144.7
|
|
118.1
|
|
198.5
|
|
197.7
|
|
188.0
|
|
163.7
|
|
Apr-23
|
|
161.2
|
|
75.1
|
|
69.0
|
|
132.7
|
|
118.7
|
|
189.2
|
|
191.4
|
|
192.3
|
|
150.8
|
|
May-23
|
|
167.6
|
|
78.8
|
|
73.3
|
|
141.1
|
|
138.2
|
|
187.9
|
|
191.1
|
|
199.3
|
|
156.1Provisional
Growth Rates 
|
|
Sector
|
|
Coal
|
|
Crude Oil
|
|
Natural Gas
|
|
Refinery Products
|
|
Fertilizers
|
|
Steel
|
|
Cement
|
|
Electricity
|
|
Overall Growth
|
|
Weight
|
|
10.33
|
|
8.98
|
|
6.88
|
|
28.04
|
|
2.63
|
|
17.92
|
|
5.37
|
|
19.85
|
|
100.00
|
|
May-22
|
|
33.5
|
|
4.6
|
|
7.0
|
|
16.7
|
|
22.9
|
|
15.1
|
|
26.2
|
|
23.5
|
|
19.3
|
|
Jun-22
|
|
32.1
|
|
-1.7
|
|
1.2
|
|
15.1
|
|
8.2
|
|
3.3
|
|
19.7
|
|
16.5
|
|
13.1
|
|
Jul-22
|
|
11.4
|
|
-3.8
|
|
-0.3
|
|
6.2
|
|
6.2
|
|
7.5
|
|
0.7
|
|
2.3
|
|
4.8
|
|
Aug-22
|
|
7.7
|
|
-3.3
|
|
-0.9
|
|
7.0
|
|
11.9
|
|
5.8
|
|
2.1
|
|
1.4
|
|
4.2
|
|
Sep-22
|
|
12.1
|
|
-2.3
|
|
-1.7
|
|
6.6
|
|
11.8
|
|
7.7
|
|
12.4
|
|
11.6
|
|
8.3
|
|
Oct-22
|
|
3.8
|
|
-2.2
|
|
-4.2
|
|
-3.1
|
|
5.4
|
|
5.8
|
|
-4.2
|
|
1.2
|
|
0.7
|
|
Nov-22
|
|
12.3
|
|
-1.1
|
|
-0.7
|
|
-9.3
|
|
6.4
|
|
11.5
|
|
29.1
|
|
12.7
|
|
5.7
|
|
Dec-22
|
|
12.3
|
|
-1.2
|
|
2.6
|
|
3.7
|
|
7.3
|
|
12.3
|
|
9.5
|
|
10.4
|
|
8.3
|
|
Jan-23
|
|
13.6
|
|
-1.1
|
|
5.2
|
|
4.5
|
|
17.9
|
|
14.3
|
|
4.7
|
|
12.7
|
|
9.7
|
|
Feb-23
|
|
9.0
|
|
-4.9
|
|
3.1
|
|
3.3
|
|
22.2
|
|
12.4
|
|
7.4
|
|
8.2
|
|
7.4
|
|
Mar-23
|
|
12.2
|
|
-2.8
|
|
2.7
|
|
1.5
|
|
9.7
|
|
8.8
|
|
-0.6
|
|
-1.6
|
|
3.6
|
|
Apr-23
|
|
9.1
|
|
-3.5
|
|
-2.8
|
|
-1.5
|
|
23.5
|
|
15.3
|
|
12.0
|
|
-1.1
|
|
4.3
|
|
May-23
|
|
7.2
|
|
-1.9
|
|
-0.3
|
|
2.8
|
|
9.7
|
|
9.2
|
|
15.5
|
|
-0.3
|
|
4.3Provisional, YoY is calculated over the corresponding month of previous year